Here's why:
* Speed tells you how fast the object is moving.
* Direction tells you which way the object is moving.
Example:
* "The car is traveling at 60 miles per hour east."
* "The ball is moving at 10 meters per second upwards."
Without both speed and direction, you only have information about the object's *speed*, not its *velocity*.
Velocity is a vector quantity, meaning it has both magnitude (speed) and direction.